In the margins of US President Joe Biden’s visit to Brussels last week, he and European Commission President Ursula von der Leyen announced a somewhat surprising agreement on a revamped transatlantic data sharing agreement “in principle”. The agreement comes after the European Court of Justice struck down the original 2013 Safe Harbor and 2020 Privacy Shield agreements. The EU’s highest Court repeatedly struck down the transatlantic agreements over concerns that European citizen’s private data would not be safe from the...

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The EIB Group joins other EU institutions in denouncing Russia's military invasion of Ukraine. Within days from the invasion the EIB, in cooperation with the European Commission, prepared an emergency solidarity package for Ukraine. The package included €668 million in immediate assistance for the Ukrainian authorities. It was fast-tracked and fully disbursed within a month. The Bank is working on other support measures, including committing an additional €1.3 billion for infrastructure projects. In addition to the €668 million package, the...

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On Tuesday, March 29, 2022, USCIS announced an action plan aimed to increase efficiency and reduce burdens to the legal immigration system. USCIS indicated three main goals within this new plan, including: Set new agency-wide backlog reduction goals; Expand premium processing to additional form types; and Work to improve timely access to employment authorization documents (EADs). Due to the COVID-19 pandemic and resource constraints resulting from the prior administration, USCIS inherited a significant number of pending cases and increased processing...

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Citing the “unprecedented surge” in the number of initial public offerings by special purpose acquisition companies (SPACs) over the past two years, the SEC has proposed new rules that would require enhanced disclosures and provide additional investor protections in initial public offerings by SPACs and in “de-SPAC” transactions. To date, the SEC has relied on the comment process and staff guidance to shape SPAC-related disclosures in registration statements and proxy statements. The proposed rules would represent the most significant...

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On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new rules that would require public companies to report detailed information about material cybersecurity incidents affecting their business and their cybersecurity risk management and governance. The new requirements are intended to expand cybersecurity incident reporting and promote increased cybersecurity risk management and governance among publicly traded companies in the U.S. Form 8-K Changes The SEC proposes to require publicly traded companies to report, via Form 8-K, material cybersecurity incidents...

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March 18, 2022 - NYC - Qarik Group is very excited to announce the addition of two former senior Googlers to Qarik’s leadership team. Dan Barrett and Rob Schmit will join our talented team within Qarik in early April.   Dan and Rob each bring a wealth of experience as leaders within Google Cloud. Together they will help lead and further deepen Qarik’s Premier Google partnership, turbocharging Qarik’s established efforts in modernizing / transforming client capabilities. “Dan and Rob partnered effectively to...

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What is Umbrella Insurance and Why It's Important WHAT IS UMBRELLA INSURANCE? Umbrella insurance is a type of supplemental insurance that can be added to your existing personal insurance coverage. This added layer of protection against different elements of risk, provides excess liability above the limits of your basic auto and homeowners insurance, for example. WHAT DOES UMBRELLA INSURANCE COVER THAT MY OTHER POLICIES DO NOT? Much like the homeowner who was sued for the head injury of a visitor that occurred in...

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With UK job vacancies at a 20-year high, an economy bouncing back from the pandemic and no more free movement within the EU, new work visa routes in March’s Immigration Rules changes can’t come too soon for many businesses. The next pillars of the UK’s post-Brexit immigration system set out in the 202-page March Statement of Changes include the Government’s flagship Scale-up visa, Global Business Mobility and High Potential Individual. Hailed as “the biggest visa improvement in a generation” by the...

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On March 25, a huge sigh of relief was heard from businesses and organizations located throughout the United States and Europe after the U.S. and European Commission announced their agreement in principle on a new Trans-Atlantic Data Privacy Framework (Framework) to effectuate the cross-border transfer of personal data from the European Union (EU) to the U.S. After more than a year of discussions, the announcement brings hope that the Framework will alleviate the uncertainty caused by the Court of...

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With the help of our members, this thought-leadership series explores the acceleration of "digitalization" due to COVID-19 on both sides of the Atlantic, and across various industries. In an increasingly digital world, the need for instant, automatic information is at an all-time high. Accounting and financial reporting processes are no exception. While the automation of accounting services and financial reporting can streamline and optimize business operations, it can also present legal challenges that businesses need to be aware of. Amesto...

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